Following the retail sales and consumer spending reports of the past few weeks would leave many to believe that most nations are undergoing similar bearishness. This does not seem to be the case in Italy, however.
Italian retail sales, published this morning at 9:00 GMT, revealed surprise growth of approximately 0.4% for the month of June. Forecasts were calling for a decline of about 0.1%, but today’s reading reveals sudden strength in the consumer outlook in the southern European country. This figure has also added to the recent upswing in risk appetite connected with Germany’s Ifo business report.
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